convert more leads to sales · 2019-09-27 · into purchasing a home. eventually, these leads will...

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Thank you for attending the Spring 2018 REALTOR® MARKETING WORKSHOP

CONVERT MORE LEADS TO SALES

royallepage.ca/training

Customer Care: 1-877-757-4545 [email protected]

INTRODUCTION ................................................................................................................................................................... 3

CLEARLY IDENTIFYING THE SOURCE OF LEADS .................................................................................................................................... 4 YOUR STRATEGY TO CONVERTING ONLINE LEADS ....................................................................................................................... 5

1. PROFILE OF AN ONLINE LEAD ..................................................................................................................................... 6

DEFINING ONLINE LEADS ............................................................................................................................................................... 6 THE PROBLEM WITH LEAD CONVERSION ................................................................................................................................ 8

2. FOCUS ON ‘SPEED TO LEAD’...................................................................................................................................... 10

3. DEMONSTRATE YOUR VALUE AND EXPERTISE .......................................................................................................... 11

LEAD SALES CYCLE ...................................................................................................................................................................... 12 EMAIL SIGNATURE ...................................................................................................................................................................... 16

4. INCREASE CONVERSIONS WITH FACEBOOK .............................................................................................................. 18

5. FOLLOW UP AND TRACK METRICS THAT MATTER ..................................................................................................... 20

ROI CALCULATOR .................................................................................................................................................................. 20

6. HELP AND ASSISTANCE ............................................................................................................................................. 23



INTRODUCTION



CLEARLY IDENTIFYING THE SOURCE OF LEADS

Real estate agents who manage and incubate their leads using effective systems and apply the correct strategies can achieve conversion rates of 4% - 6% or higher. Agents who are exceptionally skilled at conversion can achieve double-digit results, converting leads at 10+% rates. Being skilled at online lead conversion can mean a significant jump in ends per year.

Sources: https://www.inman.com/2017/05/03/3-steps-to-boost-online-real-estate-lead-conversion-rates/

Sources: insiderealestate.com

Real estate agents should have a variety of channels (e.g. traditional, digital, referral, etc…) from which they source new clients. Building a strong, sustainable business means ensuring you maintain a diversified source of new clients. Industry experts suggest that the optimal ratio is 1/3 traditional, 1/3 digital, 1/3 referral.

1. Activity: Identify lead source and effectiveness

Check all that apply to your lead generation:

Online:

o Social Media (e.g. Facebook, Twitter, Instagram, Google +)

o Website

o MLS® inquiries

o Landing Page

o Online Advertising

o Blog

o Online Classifieds (e.g. Kijiji…)

o Video

o Other:_____________________

o Other:_____________________

o Other:_____________________

o Other:_____________________

Offline:

o Area/Neighbourhood Farming

o Word of Mouth

o Newspapers

o Print Newsletters

o Open Houses

o Lawn Signs

o Personal Notes/Postcards

o Brochures/Flyers

o Feature Sheets

o Networking/ Appreciation Events

o Other:_____________________

o Other:_____________________

o Other:_____________________

o Other:_____________________



2. Activity: Gauge your effectiveness in responding to your leads

Reflecting back on your leads over the last 90 days….

1. Did you respond within minutes of receiving the lead? /10

2. Did you leads go into a system? /10

3. Did you add non-responsive leads to a short drip email? /10

4. Did you follow-up with the lead afterwards? /10

Total Score: /40

YOUR STRATEGY TO CONVERTING ONLINE LEADS

1. Profile of an online lead

2. Focus on ‘speed to lead’

3. Demonstrate your value and expertise

4. Increase conversions with Facebook

5. Follow-up and track metrics that matter



1. PROFILE OF AN ONLINE LEAD

DEFINING ONLINE LEADS

Offline leads have already developed a level of trust with the real estate professional and the likelihood is quite high that there has already been face to face contact (e.g. met at an open house, a networking event, at the grocery store). Online leads take more time to nurture and obtain this trust. Be cautious with online leads as they are more sensitive to sales pressure tactics.

A lead can simply be an email address. No name. No phone number. All leads that provide a legitimate way to contact them are viable, even the ones that are only an email address and even the ones that say “no” at the outset of communication. Believing that a lead is a “dead end” or not viable simply because you only have an email address can be a missed opportunity.

A true “dead-end lead” is a client who doesn’t give you a way to contact them (e.g. a sign-in at an open house that doesn’t provide an email address or phone number and no way to engage them).

Note: On Facebook it is almost impossible to have a “dead-end lead” because almost 100%of profiles are associated to a real person. Even a comment on one of your social posts can be a great online lead. Online leads can offer a great closing rate and have a tremendous ROI if agents follow through effectively and have the proper strategy in place.



Sources: https://www.inman.com/next/no-1-mistake-real-estate-agents-make-in-lead-generation

Facts about online leads:

Online leads are much further away from transacting than traditional leads, possibly

even 6 months away from being ready to move forward

92% of buyers search for a home online

Buyers spend on average 4.2 months shopping for a home

Sellers consider putting their home on the market for an average of 5 months before

they list it

26% of all buyers find their agent online

Leads typically convert between the 2nd and 12th contact attempt

Sources: NAR, Inman, Inside sales

Not all leads are created equal!



THE PROBLEM WITH LEAD CONVERSION

Sources: http://blog.realvolve.com/5-reasons-why-your-real-estate-leads-arent-converting

Realtors who are successful at converting online leads are:

One unique challenge to online leads is that potential clients generally submit inquiries via multiple sites. Research from LQ digital indicates that prospective buyers fill out 3-4 inquiry forms on average. Competition for online leads is incredibly high, especially in larger demographics.

One undeniable truth is that the source and method of collecting leads has an impact on the interest levels, stage in the sales cycle, and expectations of the lead. A solid and refined follow-up plan is your best strategy to get top conversion.

○ Realtor.ca ○ Royallepage.ca ○ Online lead capture programs

● Tech savvy

● Actively building their database

● Process oriented

○ Other franchise real estate companies

○ Independent real estate companies



3. Activity: Have you been a converted online lead?

When is the last time you completed a form online?

________________________________________________________________________

For whom/what?

________________________________________________________________________

Why did you complete the form?

________________________________________________________________________

What was the outcome? Did you buy or use their services?

________________________________________________________________________

Why or why not?

________________________________________________________________________

If you have never completed an online form, why not?

________________________________________________________________________

Online leads need to be handled differently!

royallepage.ca/training Page

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2. FOCUS ON ‘SPEED TO LEAD’

Facts about speed to lead:

Agents are 100x more likely to connect with the lead if the response time is 5 minutes

vs. 30 minutes

48% of leads are not responded to at all

35-50% of sales go to the first vendor that responds

Average response time is 15 hours (or never)!

Immediacy - respond within 5 minutes and always respond

Persistence - leads will respond between the 2nd and 12th contact attempt - most likely after the 5th contact attempt

Agents who simply pursue online leads and manage to work them properly, can corner a

sizable chunk of the market. The most likely salesperson to win the business from the

virtual space is the first salesperson to respond.

Online leads expect a quick response

The older the buyer, the faster they expect an agent to respond

o 52% of the silent generation expects agents to get back to them within a few

hours

o Only 40% of millennials expect agents to get back to them within a few hours

Online leads expect valuable information with their response

o 53% of leads will not respond if the sales rep under-communicates

o The average agent makes 1.5 call attempts to contact a lead

Sources for all of the above: NAR, InsideSales.com, LQ Digital, Live Hive, WAV Group, Zillow


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3. DEMONSTRATE YOUR VALUE AND EXPERTISE

It is essential that agents provide value to their network in order to succeed. This value must also be backed up with expertise in order to stand out and set themselves apart. Without a differentiating factor, no amount of marketing, advertising, Facebook engagement, etc… will matter as clients will not see how what you provide offers value for their money.

Once clients understand the value of the agent’s expertise and have an outstanding and unique experience with their services, the likelihood that they will tell a friend, family member or co-worker are extremely high. If agents want people to talk about their service, then they must do something that will make clients want to talk about them and the value they provide.

In the environment of online leads, your value needs to be clearly articulated. This is important because an online lead may not buy the home they requested information on, but they are likely going to be buying a home. A great strategy when it comes to providing value is to send the lead quality and helpful information that demonstrates your knowledge, expertise, and shows that you are there for their best interests, not your own.

Tip: Provide those who are inquiring about your properties with similar listings to the one they requested information on. This is quick, easy, and shows that you want what’s best for them.


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LEAD SALES CYCLE

It is essential to understand where leads currently stand in the sales cycle in order to convert them effectively. This helps determine how the lead is handled.

Some sales leads are just tire kickers looking for a deal while others are ready to buy and they’re looking to make a decision as quickly as possible. Building your lead conversion strategy means ensuring you know how to progress leads through each stage of the cycle.

The term for this is lead incubation. Lead incubation is the process of maintaining regular contact and seeding the lead with information to encourage action and to move leads through each stage effectively.

Interest

QualifiedAppointment

Client(signed)


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Stage 1: The Interest Stage

Leads in the interest stage are considered cold leads. Cold leads are typically 6+ months away from converting. A lead’s interest in transacting goes through peaks and troughs. Many agents discount these leads as “bad leads” because they tried contacting them once and they weren’t immediately interested. However, seasoned professionals have learned not to disqualify these leads, as they understand that they are positioned in the interest stage.

The appropriate response from the agent’s side during this stage is to add them to a drip-marketing campaign. If they are a potential buyer, keep them abreast of new inventory in your market and provide valuable advice that they can leverage when further evaluating all the elements that go into purchasing a home. Eventually, these leads will move into stage 2 – the Qualified Stage.

An online lead usually likes to stay anonymous and wants to protect their privacy. Strong arming people to share their personal contact information too soon in the process may have a negative effect on online lead conversion. When information is hidden behind a contact form or signup sheet, you are running the risk of having potential clients seek the information elsewhere.

Stage 2: The Qualified Stage

Leads in this stage are either cold or warm depending on the info they provide. While cold leads are 6+ months away from converting, a warm lead is 2-6 months away from conversion.

A qualified lead is someone that has: asked for information directly from you; completed a form (e.g. buyer intake form); shown a high level of intention. A great strategy at this stage is to establish a real conversation with qualified leads. This is beneficial because it helps build trust and rapport in a budding relationship.

Interest


Client(signed)

Interest


Client (signed)


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Speak with these leads on the phone, establish a friendly conversation and determine exactly what the needs of the lead are. The more information the lead is willing to provide, the better. This will permit you to provide more useful follow-up material with this lead and possibly book an appointment.

The best stage 2 leads will have:

An identified motivation and approximate timeline

A willingness to meet in person

Confirmed contact information

Lead-directed follow-up

Tip: When conversing with a lead, ask open-ended questions. By asking open-ended questions, you will get more information that you can then leverage.

Example: How long have you been searching for?

Stage 3: The Appointment Stage

Leads in the appointment stage are considered Hot Leads. Hot leads are typically within 4 weeks of listing or buying. Generally, those in the appointment stage are ready to meet with an agent and are happy to discuss their needs in person. Interest leads (stage 1) will eventually become appointment leads with consistent weekly drip-emails and follow up.

Interest


Client (signed)


15


Stage 4: Contract/Client Stage

Finally, leads will move into the fourth stage and be ready to become clients or even sign a contract. The time between the Appointment Stage and the Client Stage varies, but for some leads it can be as little as a few hours.

Tips & scripts for communicating with leads at every stage of the lead sales cycle are provided in the accompanying resource document

Activity: Put a name and a face to the lead

Reflect back on some current or recent leads. In the diagram below, put in the names of leads that are at various stages of the lead cycle.

Interest


Client (signed)

1.

2.

4.

3.


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EMAIL SIGNATURE

Sources: https://www.yesware.com/blog/email-signature/

https://www.hubspot.com/email-signature-generator


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Your complete e-mail signature on your desktop and your smartphone:

Your full name and title

Your direct phone numbers

Restate your email address

Setting up your signature in the Gmail App

Setting up an email signature from the Gmail app does not apply the same signature to an email sent through the desktop website.

Follow these steps to add a signature to the Gmail app:

________________________________________________________________________

For Android users:

1. Open the Gmail App 2. Tap the menu icon at the top left 3. Scroll to the very bottom and tap Settings 4. Choose your email account at the top 5. Tap Signature 6. Enter your signature in the text area 7. Choose OK

For iOS users:

1. Open the Gmail App 2. Click the menu icon in top left-hand corner 3. Scroll to the bottom and click settings 4. Click your email at the top 5. Select signature settings 6. Turn on mobile signature 7. Type or paste your signature and click the

back arrow (top left) to save

Confirm your brokerage details

Add links to social accounts


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4. INCREASE CONVERSIONS WITH FACEBOOK

As of the third quarter of 2017, Facebook has 2.2 billion monthly active users.

How to get here: Select: create ads > click on Traffic > select Messenger


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Download the Ads Manager App, the Pages Manager App and Facebook Messenger for iOS and Android. You will need to be able to manage your ads, pages, and messages on the go!

________________________________________________________________________


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5. FOLLOW UP AND TRACK METRICS THAT MATTER

ROI CALCULATOR

Tracking is extremely important as it allows professionals to know the ROI (Return on Investment) they are achieving on their time, money, energy and effort. The more information that is available, the better informed you will be when making decisions about where to spend your advertising dollars, both offline and online.

Remember, any type of lead you generate is a paid lead. Even lead activities like blogging, social media engagement or open houses cost you time, which must be factored into the expense side of the ROI calculation.


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________________________________________________________________________


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6. Help and Assistance

Video Tutorials: login to rlpNetwork.com > Training > Guides & Tutorials

Customer Care: Monday – Friday 9am-6pm (EST)

1-877-757-4545 [email protected]

Workshop Resources: www.royallepage.ca/training

Workshop Details > Guides & Tutorials

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> Smart Studio video tutorials

N.B. click help in the top right-hand corner of Smart Studio

Accessing Action Plans: login to rlpNetwork.com > Marketing > New Smart Studio

> launch Smart Studio > Campaign icon at the top

> Manage Action Plans

mailto:[email protected]

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convert more leads to sales · 2019-09-27 · into purchasing a home. eventually, these leads will...

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